Budget evokes mixed reactions from Indian Industry
Deshdoot Times

Budget evokes mixed reactions from Indian Industry

Gaurav Pardeshi

Gaurav Pardeshi


Finance Minister Nirmala Sitharaman on Saturday presented Budget 2020-21 evoked a mixed reaction from Indian industry.

Confederation of Indian Industry former president Naushad Forbes said didn’t hear an explicit recognition that “we are in a crisis, that we are at the lowest growth.”

“UnionBudget2020 recognises that they need to give money in the hands of the people,” said CII Director General Chandrajit Banerjee.

“Growth has a magical quality…many things are done to encourage investment, especially from overseas…” said Hero Enterprises Chairman Sunil Kant Munjal.

While Deloitte Haskins & Sells Neeru Ahuja termed it a ‘bold budget’.

“My biggest worry is that the main income generation appears to be on disinvestment and privatisation where the figure has doubled for this year. And we know what the track record has been last year,” said former FICCI President Naina Lal Kidwai.

“Happy with #UnionBudget2020,” said Amit Rana, Partner, Tax and Regulatory, PwC India

“They are carrying forward what they said on infrastructure…there are some attempts. There is a focus, but it could have been bigger,” opined Chief Executive Officer and Managing Director of Tata Steel TV Narendran.

“The future of India Inc at least should be very happy”: Vishesh Chandiok, CEO, Grant Thornton India.

“Ultimately you have to put more money in the hands of the farmers… have to get the private sector in, in a big way,” said Rakesh Bharti Mittal, Vice-Chairman and Managing Director of Bharti Enterprises.